€         Smaller practices [under $50 Million FUM] need to work together to achieve their potential.

€         Advisors should spend the bulk of their time advising and not administrating.

€        Most client relationships are not dependant on one person.

€        A smaller share of a larger cake is better than sole ownership limited to one person’s efforts.

€         Advisors need to heed their “life balance” advice.

€        The investment markets are increasingly specialist and it is impossible nor necessary to be fully aware of all markets.

€         Shared back office expenses enhance profitability and productivity.

€         Consolidation increases individual value of participants.

€         Multi licensors are desirable and retain the advantage with the advisors as opposed to the  institutions.